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Investors sought safe passage amidst speculations of upcoming exit of Britain from European Union
The UK currency was pummelled as four ministers, including Brexit secretary Dominic Raab, quit in protest against the EU exit deal which was mauled by all sides in Parliament.
The ones who left: Indian-origin minister leads resignations in fresh Brexit jolt for PM Theresa May
Prime Minister May was hit by a bigger blow as her Brexit Secretary Dominic Raab resigned from the Cabinet saying he "cannot in good conscience" support the draft.
The president of the parliament, Antonio Tajani, thanked chief EU negotiator Michel Barnier for concluding the deal, but noted that his body would have the "final word".
At 0900 GMT, the pound stood at around $1.2870, compared to $1.2992 at 2200 GMT on Wednesday.
Shailesh Vara, a Northern Ireland minister, became the first member of the government to quit over the deal as May began trying to sell the draft accord to parliament.
The latest development came as May was seeking cabinet's support for the Brexit deal text agreed between Britain and EU.
However, Opposition Labour Party leader Jeremy Corbyn accused her of preparing to bring a "false choice" before Parliament between a "botched deal and no deal".
British and EU negotiators have reached agreement on the terms of a Brexit deal on a "technical level" and the draft will be examined by the British cabinet on Wednesday.
This was the biggest annual decline since the ONS started compiling the data in 1997, and was driven by fewer Eastern Europeans working in Britain.
Theresa May is due to meet French President Emmanuel Macron on Friday on the sidelines of World Way I commemorations being held in Belgium and France.
That keeps open the possibility of Britain securing a future free trade agreement similar to the one signed between Canada and the EU in 2016.
The WTO in Geneva -- which has 164 countries as members -- is where countries negotiate the rules of international trade and settle disputes.
Boeing's big rival Airbus, which employs more than 6,000 people in Britain, has warned it may be forced to scale back investment if Britain crashes out of the EU with no deal.
Britain is set to formally leave the EU on March 29 next year after a 2016 referendum in favour of Brexit.